George Soros: 'I Believe In The Euro' And Am Looking To Invest In EU Banks

FRANKFURT (Reuters) - George Soros wants to invest
in Europe's financial sector, according to a German
magazine's interview with the billionaire investor on Sunday.

"I believe in the euro," weekly Der Spiegel quoted him
as saying.

"Therefore my investment team is looking forward to make a lot of
money soon in Europe by, for example, pumping money in
banks which urgently need capital," he added, noting the euro
zone needs this kind of private investment right now.

Soros, who founded Soros Fund Management, is one of the
hedge fund industry's most closely watched investors.

Soros told Der Spiegel his management team was also
considering investing in Greece.

"The economic conditions in the country have improved. The
question now is whether one can earn money there on a sustainable
basis. If that is possible we will invest," he said.

Soros renewed his criticism against Germany's policies to
save the euro, saying the austerity measures
Chancellor Angela Merkel had forced
upon Europe had aggravated the crisis.

Euro zone financial markets have calmed down in the meantime, but
a sustainable recovery still does not exist, he said.

"I fear that the euro zone could experience a long phase of
economic stagnation similar to Japan's in the past 25
years," he said.